House Ways and Means Committee chairman Dave Camp (R–MI) released a plan for comprehensive tax reform. Setting aside its merits, Camp’s proposal is noteworthy on two accounts: (1) It presents the most comprehensive tax reform proposal in decades, and (2) it includes a dynamic estimate from the Joint Committee on Taxation (JCT).
The latter is a long overdue and welcome…

A major report by the Congressional Budget Office (CBO) confirms that Medicare premium support (a defined-contribution system of health-plan financing) would make the financially troubled federal program more fiscally sustainable.[1]
The CBO finds that, in a new competitive system of health plans, private plans can offer the same benefit and services as traditional…

The new budget deal is disappointing to conservatives and believers in a limited government that manages its finances. Earlier during the negotiations, my colleagues and I at the Heritage Foundation warned that sacrificing short-term budget constraint for savings that would occur in the long-term future is a dubious proposition.
Budget historians know that previous…

The United States and the European Union (EU) have begun the negotiation of the Transatlantic Trade and Investment Partnership (TTIP), which could greatly reduce or eliminate both tariff and non-tariff barriers to trade between the U.S. and the EU, a trade relationship that accounts for about 30 percent of world trade.
The promotion of economic freedom is a vital part of…

For the first time in years, lawmakers have agreed to convene in a budget conference to reconcile differences between their respective budget proposals, as presented by House Budget Committee chair Paul Ryan (R–WI) and Senate Budget Committee chair Patty Murray (D–WA). The two chambers’ budgets differ wildly in terms of taxes and the size of government.
A budget…

Senate Budget Committee chairwoman Patty Murray (D–WA) unveiled the first Senate budget in four years. Murray deserves some credit for actually advancing a budget, but her budget contains steep tax increases that would reduce economic growth by increasing the cost of capital investment.
Murray’s tax plan singles out corporations and individuals that are already faced…

While the economy continues its slow recovery, employment lags. Yes, the unemployment rate has slightly fallen. But that derives from a mass exodus of potential workers from the labor market, and the failure of those who left the labor force during the recession to return to the job market. The labor force participation rate remains at its cyclical low.
There has been…

The December employment report from the Bureau of Labor Statistics (BLS) shows that 2012 ended with an unemployment rate of 7.8 percent and 155,000 new jobs. The labor market has not had an adequate recovery and has made little progress from 2011 to 2012. Many American workers will experience permanent lower lifetime earnings as a result of the poor economic recovery,…

The economy created 146,000 jobs in November, and the unemployment rate fell to 7.7 percent from 7.9 percent in October. The numbers in the November report were not substantially affected by Hurricane Sandy, according to the Bureau of Labor Statistics (BLS).
While the headline numbers are positive, there are some major concerns inside the report. For instance, labor…

In October, the labor market continued its slow recovery by adding 171,000 jobs, but the unemployment rate climbed to 7.9 percent according to the latest jobs report from the Bureau of Labor Statistics (BLS). Job growth continues to be sluggish, given the length of time out of the recession. At the current rate of job growth, a return to full employment is not expected…

Today’s seniors are facing higher Medicare costs. Over the next five years, current law, as amended by the Patient Protection and Affordable Care Act (PPACA, also known as “Obamacare”), and President Obama’s budget proposals guarantee higher costs for today’s seniors.
Status Quo Hikes
The 2012 Medicare trustees report says that, over the period 2012 to…

Opponents of Medicare premium support routinely charge that it would cost future retirees $6,400 more annually. In fact, this dollar amount is incorrect, and the charge is erroneous. Such false charges are based on an outdated Congressional Budget Office (CBO) model of House Budget Committee chairman Paul Ryan’s (R–WI) 2011 budget proposal.
Ryan’s 2012 proposal,…

Introduction
Part I: The Promise of America
Part II: The Misguided Focus on Income Inequality
Part III: The Real Threats to The American Dream
Conclusion
Executive Summary
Today, on the Left and on the Right, everyone talks about rebuilding, saving, restoring, defending, or rescuing an American Dream that is slipping,…

The Bureau of Labor Statistics reported that the economy created on net 96,000 new jobs in August and that the unemployment rate fell to 8.1 percent. The decline in the unemployment rate was entirely due to a steep decline in the percentage of people in the labor force, which reached a 30-year low.
Forward-looking indicators tell a grim story as the labor market…

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